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Disclosure

This section provides information on disclosure, why it is important and how it is used when
a buy side client agrees to disclose information during the interview.

What is Disclosure?

Disclosure is permission granted by a buy side client allowing Greenwich Associates to
share attributed feedback with our sell side clients. There are specific levels of disclosure to
which a buy side client can agree.

Disclosure applies to Individual Account Profile (IAP) or Account-by-Account (AxA) reports.
Both of these reports are client deliverables that provide sell-side clients a relationship
summary including dealer/broker/bank/manager rankings, feedback on lead counterparty’s
service quality, and open-ended commentary that applies to that client only. Disclosure is
when the buy side client grants explicit permission to reveal their answers and/or their
identity in our research to the sell side.

As part of our contractual agreement with our sell side clients, information is not permitted
for distribution outside the hands of senior-level executives. By objectively communicating
buy side clients’ important observations and assessments, Greenwich Associates can help
facilitate the feedback process to help provide them with the coverage quality and service
they deserve as a member of the Greenwich Exchange.

Value of Disclosure

How does the buy side client benefit from disclosure?

Greenwich Associates has found that sell side clients appreciate the candor. After all, the
financial service providers can only make specific changes or improvements when they
know what and where the problems are located. Disclosing participation in the Greenwich
Associates research is a direct and easy way to communicate with senior managers (all at
once), to ensure improved service.

Overcoming Objections to Disclosure
Financial professionals on the buy side and sell side trust Greenwich Associates and have
done so for over 40 years.

Many sell side firms are now proactively organizing their resources around individual
account needs i.e. becoming customer-centric. Financial services buyers should want
to help steer this process, as it is in their best interest to do so.
Greenwich Associates’ clients are contractually obligated to ensure that the disclosed
information is for the exclusive use of senior management only. Specific account
information does not flow down to the relationship manager, trading floor or research
departments.

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